The 2011 soybean crop market opened the past week at $14.73, a huge 47 cent gain from the previous Friday close, and drifted slowly lower through the week. But another 47 cent gain on Friday moved the market into territory not seen since May 1 and a closing statewide average daily price of $15.03, an overall 70 cent improvement for the week (Figure 1). Seven of the fourteen reporting markets ended the week above the $15.00 level. West Memphis clearly had the highest individual market price of the week at $15.42 on Friday with Old Town/Elaine at $15.33. Daily individual market low for the week was $14.25 at Jonesboro on Thursday. Last day individual quotes across all state markets ranged from $14.72 at Jonesboro to the $15.42 reported at West Memphis. The closing day price spread for the state was 70 cents, a widening of 4 cents from the previous Friday range.
New Crop Booking Price movements on the 2012 soybean crop, after a stronger weekend surge, had a much smaller range of movement than the old crop market. New Crop gained 50 cents over the weekend to open at $14.31 on Monday. Prices declined through the remaining trading days of the week before enjoying a solid 23 cent recovery on Friday (Figure 2). The new crop market finish represented an overall 52 cent gain from the previous week closing price. High individual daily market quote for the week was at $14.49 at Helena followed closely by Old Town/Elaine at $14.48 and West Memphis at $14.46. The lowest individual daily average during the week was $13.88 submitted on Thursday at Jonesboro with Wynne at $13.89. The fourteen reporting markets all ended the week at or above $14.00 for the first time in the season. The closing day range of market prices was 37 cents from a $14.12 low at Jonesboro to the high of $14.49 at Helena, unchanged compared to the previous week.
(Market average prices stated in this report are unweighted averages of the state markets surveyed by NASS. Price data was based on USDA LR GR111 Arkansas Daily Grain Reports.)